Cattle futures continued to carve a sharp path lower Friday, as equity markets unwound with growing concerns of recession.

Live Cattle futures closed an average of $2.02 lower. Feeder Cattle futures closed average of $4.15 lower.

Negotiated cash fed cattle trade ranged from moderate on moderate demand to inactive on light demand through Friday afternoon, according to the Agricultural Marketing Service.

For the week, FOB live prices were $2 lower in the Texas Panhandle at $188/cwt., $2 lower to $7 higher in Kansas at $188-$195, $2 lower in Nebraska at $196 and $2 lower in the western Corn Belt at $194-$196. Dressed delivered prices were $2 lower at $310/cwt.

Choice boxed beef cutout value was 98¢ higher Friday afternoon at $313.77/cwt. Select was 29¢ lower at $297.17/cwt.

Short covering on profit taking earlier in the week helped Grain and Soybean futures close higher Friday. Corn futures closed 4¢ to 5¢ higher. Soybean futures closed mostly 10¢ to 12¢ higher. KC HRW Wheat futures closed 5¢ to 7¢ higher.